Member

Other noble Lords have given cumulative numbers for debt, dividends and capital investment since the initial public offer and the flotation of these companies. The noble Lord, Lord Sikka, discussed the normal capitalisation of interest incurred in the case of construction, as well as repairs and maintenance, as if it is some kind of crime. In my mind, these discussions fail to see the wood for the trees. Financial gearing is the key metric of financial health for this industry, and the target that should be aimed at in the Bill.